Oppenheimer Maintains Express Scripts Outperform Rating
Oppenheimer maintains Express Scripts' (NASDAQ: ESRX) Outperform rating in a research report out today. Express Scripts, which has a $54 price target according to Oppenheimer, is expected to finalize its acquisition of Medco soon.
In the report, Oppenheimer writes, "Despite underachieving on core profitability metrics, we continue to believe the shares will primarily trade on the expected closure of the Medco merger. Management's comments regarding client retention rate and expecting flat to slightly up claims growth, despite the impact of WAG and projecting similar utilization trends as 2011, should also alleviate investor concerns, in our opinion. We maintain our Outperform."
Shares of Express Scripts are currently trading at $53.26, up 3.18% from yesterday's close.
